TIC TOC...some SNIPPETS
Thread Started Today at 1:07am
Mike C said they would run the collapse right up to the point where it makes sense to reset the system and initiate a new one, saying the old one is irreparably broken and that the reset would probably still occur over a weekend...looks like they are well on their way on that road littered with turds...
At the bottom, I would hope that Chavez has assayed/drilled and weighed his stash otherwise a pantload of oil will have some coitus oil-interruptus. I've read a few times that quite a bit of the Tungsten Special originates in England...TIC TOC
http://www.zerohedge.com/news/7075689010....107-t rillion-6
What is probably just as disturbing is that in the first 6 months of 2011, the total outstanding notional of all derivatives rose from $601 trillion at December 31, 2010 to $708 trillion at June 30, 2011. A $107 trillion increase in notional in half a year.
Which means that in order to satisfy what likely threatened to become a self-feeding margin call as the (previously) $600 trillion derivatives market collapsed on itself, banks had to sell more, more, more derivatives in order to collect recurring and/or upfront premia and to pad their books with GAAP-endorsed delusions of future derivative based cash flows.
http://www.zerohedge.com/news/britains-f....pse-when-not-if
Britain's Foreign Office Prepares For Riots In Europe; Sees Euro Collapse "When, Not If"
British embassies in the eurozone have been told to draw up plans to help British expats through the collapse of the single currency, amid new fears for Italy and Spain.
As the Italian government struggled to borrow and Spain considered seeking an international bail-out, British ministers privately warned that the break-up of the euro, once almost unthinkable, is now increasingly plausible.
Diplomats are preparing to help Britons abroad through a banking collapse and even riots arising from the debt crisis.
The Treasury confirmed earlier this month that contingency planning for a collapse is now under way.
A senior minister has now revealed the extent of the Government’s concern, saying that Britain is now planning on the basis that a euro collapse is now just a matter of time.
Recent Foreign and Commonwealth Office instructions to embassies and consulates request contingency planning for extreme scenarios including rioting and social unrest.
http://www.zerohedge.com/news/venezuela-gets-first-shipment-physical-gold-today
Venezuela Gets First Shipment Of Physical Gold Today
Bloomberg has reported that Venezuela will receive the first shipment of gold reserves being repatriated from U.S., Canadian and European banks today.
The gold that was over there in England will soon be arriving, said Chavez
Will Chavez demonstrate phenomenal foresight having collected his gold just months ahead of Europe falling into the abyss of a toxic debt spiral or were his worries unfounded? It remains to be seen. However, he will probably sleep sounder knowing that his gold is no longer in the vaults of the LBMA, HSBC, or several hundred feet under the New York Fed. That is, of course, if the "presidential palace or Cuba or something" ends up having real 999 gold, and not just several blocks of Tungsten with a pretty plating on top.